Finance Committee tells govt to ease Indian currency exchange

KATHMANDU: A meeting of the Finance Committee under the Legislature-Parliament on Thursday has directed the government to ease the exchange of Indian currency notes of Rs 500 and 1,000 denomination.

The meeting has directed the Ministry of Finance and the Nepal Rastra Bank so after India banned the notes.

The Committee Chairman Prakash Jwala has shared the decision to this end, adding that Nepalis holding such currencies were facing difficulties to exchange them.

Lawmakers speaking in the meeting stressed resolving the issues particularly faced by people living in border areas.

Meanwhile, NRB Governor Dr Chiranjibi Nepal said that the central bank was holding talks with the Reserve Bank of India to ease the exchange process, assuring that it would yield some results soon.